Never Lose Again
Moderator: moderators
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15564
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3036
- Location: Oregon
- Real name: Avery T. Horton, Jr.
- Gender:
- Contact:
"First trade:
After forming a new high there is a candle down with a bigger body marked with red number one.(be carefull it is not twice as big as previous) get ready there is a possibility. It is a body in direction of profit.
The green candle marked number two goes back up but body closes around zero line and has a big wick in direction of loss. "
I think I see why I was having a hard time.
When you say "wick in direction of loss", what you are saying is the wick FORMED in the direction of loss!!
In this case, the price went up and reversed, thus FORMING A WICK IN THE DIRECTION OF LOSS. Now, I understand.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
-
- rank: <50 posts
- Posts: 25
- Joined: Tue Sep 23, 2008 9:35 pm
- Reputation: 0
- Location: Dorset
- Gender:
- Contact:
dragon33 wrote:[glow=red]ESPECIALLY FOR MY FRIENDS HERE[/glow]
First trade:
After forming a new high there is a candle down with a bigger body marked with red number one.(be carefull it is not twice as big as previous) get ready there is a possibility. It is a body in direction of profit.
The green candle marked number two goes back up but body closes around zero line and has a big wick in direction of loss. The candle to the right of number two failed to make a new high. When that candle closed i set my limit. I do NOT place my limits on the line, i always count my spread to it. If i put them on the line i miss those trades a lot because i'm two pips short!
I try to run 1 15m candle or more. When you see to the overlays you can see price has broken previous H1 body and previous candle has a big wick. That are signs to stay longer in trade.(H1 that breaks the H1 high could have a body twice as big, remeber that) When i can ride more then one candle i put my SL between the body that are past. I only do that when i can make more as 10 pip otherwise i take my profit.
second trade:
I have put a small limit order at a previous zeroline. You can see where that zero come from. I put a bigger order on a better price marked on a refernce point from the past short by that zeroline. If price never hit the order its ok by me!
trade 3:
New low, second candle is twice as big (momentum, sign to get ready)
price came back and i was to late to set a limit because wasn't watching my screen. I enterd with a market order.
trade 4:
same as all zerotrades. candle that makes a body that is twice as big as previous. Care some attention (there is also a wick on that candle, leave those trades when you can afford to lose. My limit was hit but price goes down. It was a scary moment but i holded my position. Price went almost down to H1 zeroline.
I hope you understand what i am trying to say. This is not easy fro me. I like to do it in Dutch . But then it is not easy for you guys
The most important to all of you is:
BODY AFTER LOW OR HIGH NEED TO BE TWICE AS BIG. WATCH THE H1 COLORS IT IS IMPORTANT
Thank you very much Patrick aka Dragon! That was quite helpful.
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15564
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3036
- Location: Oregon
- Real name: Avery T. Horton, Jr.
- Gender:
- Contact:
Bill Dickens introduced me to the concept of TRAVEL a few years ago.
We all know range is high minus low. But it doesn't really capture all of the price action.
I came up with a simple formula for travel:
TRAVEL = 2*WICK + BODY + 2*TAIL.
Price may move up after open, hit a high, retrace to a low and retrace to a close.
Price may move down after open, hit a low, retrace to a high and retrace to a close.
Price "moves" up and down the wick.
Price "moves" down and up the tail.
IT'S NOT WHAT YOU TRADE, IT'S HOW YOU TRADE IT!
Please do NOT PM me with trading or coding questions, post them in a thread.
Please do NOT PM me with trading or coding questions, post them in a thread.
As I was trying to replicate the channels/grids that MO has been discussing the other day, I was wondering if mt4 had a tool besides trendlines by angle. It appears that Gann Grids might be able to draw the grids. I'm still experimenting with it but this is where you can locate it to try it out yourself.
Here's what metaQuotes has to say about it
http://ta.mql4.com/linestudies/gann_grid
The above article mentions 45 degree angle and that's the default grid setting but you can click the "tail" of the grid and snap the dots to different areas of the chart to change the angle. I'm still trying to get the hang of it so I can't give any more help on the matter.
Can someone tell me how to upload a picture besides attaching it as an attachment? I can't get the "upload picture" button to upload a jpeg from my computer.
Here's what metaQuotes has to say about it
http://ta.mql4.com/linestudies/gann_grid
The above article mentions 45 degree angle and that's the default grid setting but you can click the "tail" of the grid and snap the dots to different areas of the chart to change the angle. I'm still trying to get the hang of it so I can't give any more help on the matter.
Can someone tell me how to upload a picture besides attaching it as an attachment? I can't get the "upload picture" button to upload a jpeg from my computer.
- Attachments
-
- Gann_grid.jpg (194.78 KiB) Viewed 4330 times
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.
- TheRumpledOne
- rank: 10000+ posts
- Posts: 15564
- Joined: Sun May 14, 2006 9:31 pm
- Reputation: 3036
- Location: Oregon
- Real name: Avery T. Horton, Jr.
- Gender:
- Contact:
Please add www.kreslik.com to your ad blocker white list.
Thank you for your support.
Thank you for your support.